Crypto-linked political groups have sharply increased their spending in Ohio's Senate race, with new US filings showing about $52.6 million spent to oppose former senator Sherrod Brown and support Republican incumbent Jon Husted. Most of that total came from Defend American Jobs, an affiliate of the Fairshake network, which reported about $46.6 million in media spending — well above the $30 million plan it announced in September.
A second crypto-aligned group added to the push this week. The Digital Freedom Fund, set up by Gemini co-founders Tyler and Cameron Winklevoss, reported about $3 million in new spending, taking its Ohio total to about $5.9 million. Early voting in Ohio has already been running for about 10 days, and the US election is now less than three weeks away.
Brown is a familiar name for crypto traders. As a senator he chaired the Senate Banking Committee and was one of the loudest voices in Congress against laws and policies favoured by the crypto industry. Fairshake and its allies also spent heavily against him in 2024 — about $41 million in that race — so the new total already passes the group's earlier effort in Ohio.
Ohio is not the only race drawing crypto money. Defend American Jobs also reported more than $6.7 million spent opposing independent candidate Dan Osborn in Nebraska, while Fairshake said in January it held about $193 million in cash ahead of the 2026 elections. Another crypto-backed committee, Fellowship, has reported more than $11 million in spending supporting House and Senate candidates over the past year.
For traders, the race matters because the next Congress will decide the future of US crypto laws, including market-structure and stablecoin rules that have stalled in the Senate. A Senate that is friendlier to crypto could move those bills faster, while Brown's return could strengthen the side calling for tougher rules. That is why a state election is now being watched as a crypto market story, not just a political one.
Read also: US Crypto Rules Now in SEC and CFTC Hands After Senate Blocks Clarity Act
This post is news only, not financial advice. Always do your own research before buying or selling crypto.
Sources: Cointelegraph, Crypto.news
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